Tiaa Fsb lessened its holdings in shares of Occidental Petroleum Co. (NYSE:OXY) by 9.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,111 shares of the oil and gas producer’s stock after selling 4,258 shares during the period. Tiaa Fsb’s holdings in Occidental Petroleum were worth $2,589,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the business. Raymond James Trust N.A. boosted its position in shares of Occidental Petroleum by 1.5% during the first quarter. Raymond James Trust N.A. now owns 143,495 shares of the oil and gas producer’s stock valued at $9,499,000 after buying an additional 2,110 shares during the period. Salem Capital Management Inc. boosted its position in shares of Occidental Petroleum by 4.4% during the first quarter. Salem Capital Management Inc. now owns 67,875 shares of the oil and gas producer’s stock valued at $4,493,000 after buying an additional 2,875 shares during the period. Sciencast Management LP purchased a new position in shares of Occidental Petroleum during the first quarter valued at approximately $1,223,000. Retirement Systems of Alabama boosted its position in shares of Occidental Petroleum by 1.1% during the first quarter. Retirement Systems of Alabama now owns 435,632 shares of the oil and gas producer’s stock valued at $28,839,000 after buying an additional 4,700 shares during the period. Finally, Viking Fund Management LLC boosted its position in shares of Occidental Petroleum by 15.3% during the first quarter. Viking Fund Management LLC now owns 37,700 shares of the oil and gas producer’s stock valued at $2,496,000 after buying an additional 5,000 shares during the period. Institutional investors and hedge funds own 84.34% of the company’s stock.
Shares of NYSE OXY opened at $63.67 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.34 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $47.62 billion, a P/E ratio of 12.71, a PEG ratio of 1.18 and a beta of 0.83. Occidental Petroleum Co. has a 52-week low of $56.83 and a 52-week high of $87.67.
The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, March 11th were issued a $0.78 dividend. The ex-dividend date was Friday, March 8th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.90%. Occidental Petroleum’s payout ratio is 62.28%.
OXY has been the subject of several recent analyst reports. Atlantic Securities upgraded Occidental Petroleum from a “neutral” rating to an “overweight” rating and set a $85.00 target price for the company in a research report on Friday, December 21st. Capital One Financial lowered Occidental Petroleum from an “overweight” rating to an “equal weight” rating in a research report on Thursday, December 20th. Barclays lowered Occidental Petroleum from an “overweight” rating to an “underweight” rating and lowered their price target for the company from $77.00 to $70.00 in a report on Friday, February 15th. KeyCorp assumed coverage on Occidental Petroleum in a report on Thursday, December 20th. They issued an “overweight” rating and a $75.00 price target for the company. Finally, Morgan Stanley set a $72.00 price target on Occidental Petroleum and gave the company a “buy” rating in a report on Thursday, February 14th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $83.80.
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Occidental Petroleum Company Profile
Occidental Petroleum Corp. engages in the exploration and production of oil and natural gas. It operates through the following segments: Oil & Gas, Chemical and Midstream & Marketing. The Oil & Gas segment explores for, develops and produces oil and condensate, natural gas liquids and natural gas. The Chemical segment manufactures and markets basic chemicals and vinyls.
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